GOOGL Jun 2020 1285.000 put

OPR - OPR Delayed price. Currency in USD
278.10
0.00 (0.00%)
As of 2:00PM EDT. Market open.
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Previous close278.10
Open278.10
Bid118.40
Ask122.00
Strike1,285.00
Expiry date2020-06-19
Day's range107.50 - 108.50
Contract rangeN/A
Volume15
Open interest87
  • President Trump has singled out these companies for their coronavirus response
    Yahoo Finance

    President Trump has singled out these companies for their coronavirus response

    During his daily White House appearances, President Trump has not shied away from calling out companies by name. Here’s a running tally of the companies he’s focused most of his attention on.

  • Hackers are posting verified Zoom accounts on the dark web
    Yahoo Finance

    Hackers are posting verified Zoom accounts on the dark web

    The dark web is full of coronavirus related scams, from compromised Zoom teleconferencing accounts, fake vaccines, phishing kits, and more.

  • Facebook (FB) Shares Location Data With Coronavirus Researchers
    Zacks

    Facebook (FB) Shares Location Data With Coronavirus Researchers

    Facebook (FB) boosts user location data collection initiatives to help researchers understand and derive measures to combat coronavirus outbreak.

  • Facebook asks users about coronavirus symptoms, releases friendship data to researchers
    Reuters

    Facebook asks users about coronavirus symptoms, releases friendship data to researchers

    Facebook Inc said on Monday it would start surveying some U.S. users about their health as part of a Carnegie Mellon University research project aimed at generating "heat maps" of self-reported coronavirus infections. Facebook said it may make surveys available to users in other countries too, if the approach is successful. Alphabet Inc's Google, Facebook's rival in mobile advertising, began querying users for the Carnegie Mellon project last month through its Opinion Rewards app, which exchanges responses to surveys from Google and its clients for app store credit.

  • Uber’s Green Competitor That’s Taking The World By Storm
    Oilprice.com

    Uber’s Green Competitor That’s Taking The World By Storm

    The pressure is growing across the globe to go green, and one ambitious ride-sharing service has risen up to the challenge in a big way

  • Facebook Expands Location Data Sharing With Covid-19 Researchers
    Bloomberg

    Facebook Expands Location Data Sharing With Covid-19 Researchers

    (Bloomberg) -- Facebook Inc. is expanding the user location data that the company offers to researchers and non-profits trying to study the outbreak of the Covid-19 coronavirus.The world’s largest social network shares anonymized, aggregated location information as part of an effort to study disease outbreaks, and more than 150 organizations partner with the company to use that data for research. Facebook is adding new data points for researchers fighting Covid-19, including information about whether people are staying at home, and other material that details “the probability that people in one area will come in contact with people in another,” the company said Monday.At Harvard University, researchers are using the information to measure whether government recommended “social-distancing” measures are actually helping to decrease spread of the virus, which has already infected a confirmed 1.3 million people worldwide.“We are putting in social distancing policies and currently we have no idea what they actually do in terms of subsequent epidemiology of the disease,” said Caroline Buckee, an associate professor of epidemiology at Harvard. “Policy makers want to know things like, ‘Which of these policies actually work? And how long are we going to have to do them?’”Facebook will also put a post atop users’ feeds in the U.S. directing them to a Carnegie Mellon University survey that will ask users, among other things, to self-report possible Covid-19 symptoms. Facebook says the survey is intended to “help health researchers better monitor and forecast the spread of Covid-19.”“[Researchers] won’t share individual survey responses with Facebook, and Facebook won’t share information about who you are with the researchers,” the company said. Only those 18-years-old or older will see the survey prompt.Alphabet Inc.’s Google said last week it would publicly release mobility reports that show anonymized data about where people are traveling to help researchers better track the disease. The company’s Maps app is used by more than 1 billion people worldwide.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Some Countries Are Taking Social Distancing More Seriously Than Others
    Bloomberg

    Some Countries Are Taking Social Distancing More Seriously Than Others

    (Bloomberg Opinion) -- Google has deployed the tracking data it collects from users around the world to assess our movements before and after the World Health Organization declared Covid-19 a global pandemic.Charted below are the location trends for places such as national parks, public beaches, marinas, dog parks, plazas and public gardens. They illustrate which countries reacted most swiftly to the call for social distancing (e.g. Italy) and which lagged behind (e.g. Sweden).— Ben Schott is a Bloomberg Opinion visual columnist. He created the Schott’s Original Miscellany and Schott’s Almanac series, and writes for newspapers and magazines around the world.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Isolation Changes Everything for Status Seekers
    Bloomberg

    Isolation Changes Everything for Status Seekers

    (Bloomberg Opinion) -- The desire for status and approval is one of the most powerful human motives. It induces us to work hard, dress well and engage in conspicuous consumption, such as Instagramming our fancy vacations. But with the rapid advent of Covid-19, most of those options have been whisked away from us.The plunge in status-seeking behavior is yet another way in which the lockdown is a remarkable and scary social experiment. One possible consequence is that many people won’t work as much, simply because no one is watching very closely and it is harder to get that pat on the shoulder or kind word for extra effort.Worse yet, for many people social approbation compensates for economic hardships, and that salve is now considerably weaker. Time was, even if you were unemployed, you could still walk down the street and command attention for that one stylish item in your wardrobe, or your cool haircut, or your witty repartee. Now there’s no one on the street to impress.Americans are learning just how much we rely on our looks, our charisma and our eloquence for our social affect. As Sonia Gupta asked on Twitter: “Extremely attractive people, I have a genuine question for you, no snark: What’s it like to not be getting the regular daily social attention you might be accustomed to, now that you have to stay inside and isolate from others?”Of course her question applies to more than just “extremely attractive people.” The social affirmation gained from, say, attending regular church meetings is now also much weaker.The collapse in status relations runs deep. We might spend a lot of time in chats and Zoom meetings, but in that medium status is harder to express. The boss who “dominates the room” just can’t project the same charisma from a small boxed image on your laptop screen. Nor can the others tell that everyone is listening attentively to that person, or that the person is tall or witty or well-dressed. This is another way in which Covid-19 is “the great equalizer.”In the short run, we can draw upon our status perceptions from the immediate pre-Covid-19 past. The boss is still the boss, and no one has forgotten who Taylor Swift is. As the lockdown continues, however, we may become increasingly confused in this new status-shorn universe, taking phone calls and meetings with previously unknown people.Even the still-famous may lose some of their luster. LeBron James remains a top NBA star, but he is not out there proving it every week, and so his renown has diminished somewhat — as has that of the NBA.To some extent this status erosion is liberating. It may cause a lot of people to reexamine perennial questions about “what really matters.” There are other positive effects: fewer peer-related reasons to go out and spend money, for instance (do you really need that new jacket, or to try all the hot new restaurants?). That will help make tighter budgets or even unemployment more bearable. Some socially anxious people may even feel they are better off.Yet overall this is a dangerous state of affairs. One risk is that we will elevate the status of performers who remain on television frequently. The White House’s Covid-19 press briefings have boosted the profile of President Donald Trump in part because he is appearing in a relative status vacuum, making him seem more leader-like.If you really are obsessed with continuing the status-seeking game, your best options are probably online. One of the few concrete consolations of this pandemic may be a new wave of creativity on YouTube and social media.More generally and in the longer run, expect the technology sector and the nerds to rise in status. It is their products and services that are commanding our attention and filling our status vacuums. The “nerdy look” is even less of a social handicap than it used to be. To paraphrase that famous saying: On a Zoom call, nobody knows you’re wearing mismatched socks.This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tyler Cowen is a Bloomberg Opinion columnist. He is a professor of economics at George Mason University and writes for the blog Marginal Revolution. His books include "Big Business: A Love Letter to an American Anti-Hero."For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Real Estate Is Struggling With a Lack of Data
    Bloomberg

    Real Estate Is Struggling With a Lack of Data

    (Bloomberg Opinion) -- How can we determine the state of the housing market when we lack data? That is the challenge facing those in the real-estate industry today, says this week's guest on Masters in Business, Jonathan Miller, co-founder of Miller Samuel and a master appraiser and consultant to the industry. The contract data we do have reflects transactions entered into a month or so ago, before most of the shelter-in-place orders were adopted.Miller’s expertise on real-estate appraisals and transactions comes from the data he assembles and analyzes. He has created a variety of real-estate data analytics for regional and national markets. He is sought after as the go-to appraiser for the most expensive dwellings in Manhattan. Miller, who also writes at the Matrix Blog, explains how real estate is responding to the lockdown: The industry move to online listing services, such as Street Easy and Zillow, is all but complete. But some online sites are removing crucial data from their listings, including “days since listed” that show how long a property has been on the market. We also discuss the challenges appraisers are having doing interiors inspections, now in New York City but eventually the rest of the country. Appraisals that are “desktop” by computers, or “curbside” drive-bys are becoming more common, he said.Part of the problem the residential market is facing is that the spring selling season most likely is lost; how soon the market returns to normal won't be known until the pandemic passes. Although virtual tours and live videos are an option for some buyers, the human element requires being physically present to see, walk through and even smell a home, which is usually a person’s largest purchase.His favorite books are here; a transcript of our conversation is available here. Our 2014 conversation with Miller can be found here; our 2016 MiB is here.You can stream and download our full conversation, including the podcast extras, on Apple iTunes, Spotify, Overcast, Google, Bloomberg and Stitcher. All of our earlier podcasts on your favorite pod hosts can be found here.Next week, we speak with James Montier, a member of GMO UK Lt.’s asset allocation team. Before joining GMO in 2009, he was co-head of global strategy at Societe Generale. He is the author of several books including “Behavioural Investing: A Practitioner’s Guide to Applying Behavioural Finance”; “Behavioural Finance: Insights into Irrational Minds and Markets” and “The Little Book of Behavioural Investing.”This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • It’s a Quibi! Quirky Streaming Service for Smartphones Is Born Into Quarantining Nation
    Bloomberg

    It’s a Quibi! Quirky Streaming Service for Smartphones Is Born Into Quarantining Nation

    (Bloomberg) -- After a long stint embedded in his home office, Jeffrey Katzenberg felt almost ready to take a break. He was looking forward, he said on a Zoom call in late March, to watching more of “Tiger King,” the wacko documentary series from Netflix about big-cat trainers behaving badly, which was currently captivating large numbers of homebound viewers. A few years ago, Katzenberg said, he’d come across Joe Exotic, the incarcerated zookeeper at the center of the Florida-noir series, and had considered making a show about him. But it never came to pass, and now he was in the same boat as everybody else, stuck at home, watching the hit program on Netflix. The special powers of exotic animals seemed to be lingering on his mind. The press could hound him all they wanted but he didn’t scare easily, he explained. He leaned forward, took a pinch of his arm, and held it up to his computer’s camera. “This is rhino skin,” said Katzenberg. In the days ahead, he will certainly need all the big rhino energy he can muster.  On Monday, Katzenberg and his business partner Meg Whitman, the former chief executive officer of EBay, are overseeing the much-anticipated launch of Quibi, a short-form mobile video service that arrives into a crowded field of fierce competitors who are digging in for a long, bloody battle. Quibi, which will eventually cost $5 a month with ads, or $8 without them, will roll out 175 shows this year. The kaleidoscopic slate of programming is a mix of comedic series, dramas, reality shows, and topical news programs — all of  it serialized into brief episodes. The idea is to reach out and grab users’ attention for a few minutes at a time whenever they’re idly staring down at their phones. In one cooking competition, food is blasted out of a cannon onto participants’ faces. In another show, a sex therapist talks about how to date during a pandemic.While Quibi can sometimes sounds like a film school fever dream, it’s one of the more ambitious projects to emerge in recent years from the crossroads of Hollywood and Silicon Valley. To date, the company has collected about $2 billion worth of investment, much of it coming from major media companies. It has written checks to some of the biggest celebrities in the world. Steven Spielberg and Bill Murray are contributors. “The first thing you have to understand is, if you are a storyteller and you work in Hollywood — movies, television, animation, I don’t care, any part of it — you are an entrepreneur,” said Katzenberg. “And that entrepreneurial spirit hasn’t been tapped in a while.”Despite Katzenberg’s impressive track record in the entertainment business, plenty of competitors, critics and industry analysts are betting on Quibi to lose. “Our reaction out of the gate was: ‘I think this is gonna be pretty tough,’” said Stephen Beck, founder and managing partner of management consulting firm CG42. “Free short-form video on your mobile phone already exists, and you can get a lot of it by relatively big-name stars.”  See, for example, YouTube. Katzenberg said he has found some of the more pointed criticism of the yet-to-launch service downright amusing. In February, the New York Times published a lengthy essay by writer Dan Brooks entitled “What’s a Quibi? A Way to Amuse Yourself Until You’re Dead,” which argued that the service cynically aimed to exploit consumers’ already unhealthy addictions to smartphones. Katzenberg said that after reading the piece, he reached out to its author and set the guy up with a phone loaded with Quibi content. That’s Rhino Skin, buddy. (Brooks said in an email the shows he saw were “uneven.”) “I asked my kids: ‘Are your friends watching stuff on their phones?’ They said: ‘Absolutely.’ So we wrote the script.”On Feb. 2, Quibi ran a Super Bowl ad in which a bunch of bank robbers wait for their getaway driver, who is distracted mid-heist by a Quibi show on his phone. Tagline: “Episodes in 10 Minutes or Less.” In the weeks that followed, Katzenberg and his colleagues were planning to advertise heavily during other major sports events, including March Madness. The campaign was supposed to culminate with a star-studded premiere party at 3Labs in Culver City, California. All of it was conceived to generate a ton of free press. Getting Quibi’s quirky-sounding name out as much as possible was important. Outside of the entertainment and media industries, few people knew what Quibi was. In a poll commissioned by the Hollywood Reporter and Morning Consult in March, 81% of adults said they’d heard little or nothing at all about Quibi. But before Quibi could promote itself to America’s legions of live-sports viewers, the pandemic hit and the entire sports industry ground to a halt. Quibi would have to turn elsewhere for introductions en masse. In mid-March, with businesses and schools shutting down around the country, Katzenberg, Whitman and the board discussed the possibility of delaying Quibi’s April 6 launch date. "We said, ‘OK, we can launch, but should we launch?’” Whitman told Bloomberg Television. “We’re not health-care professionals, we’re not first responders. But we thought what we do is inform, entertain and inspire. So we thought we could bring a little joy and light and levity to people’s challenges right now. So we decided to go."Rather than postponing, they tweaked the rollout. They decided to give away the service for free for the first 90 days, a way of appealing to cash-strapped viewers suddenly grappling with a dire economic situation. Quibi also shifted the focus of its advertising blitz away from live TV events and onto social media.Katzenberg and his colleagues have since rolled out a campaign in which the company is paying its series’ stars like Chrissy Teigen to hype Quibi on Twitter, Instagram and TikTok. Meanwhile, many contributors in Hollywood are watching the launch with curiosity.  Peter and Bobby Farrelly, the fraternal screenwriters known for comedies like “Dumb and Dumber” and “There’s Something About Mary,” have a Quibi show in the works, entitled “The Now,” starring Dave Franco and Bill Murray, which will premier in May. In separate phone interviews, the Farrelly Brothers said it was a little weird to make a film that needed a cliffhanger every 10 minutes, but ultimately that it was “a fun experiment.”“I rarely watch things on my phone, certainly not television,” said Peter Farrelly. “So I asked my kids: ‘Are your friends watching stuff on their phones?’ They said: ‘Absolutely.’ So we wrote the script.”While the new service may feel experimental, Katzenberg is quick to point out that Quibi has plenty of historical precedents. He cites Charles Dickens as a producer of Quibi-like narratives, as well as Dan Brown, the author of “The DaVinci Code.” Both writers, Katzenberg said, were masters of feeding audiences long stories in installments. For readers lacking time or self-discipline, that meant they could consume a sprawling, complex tale in brief increments over weeks or months without losing the plot. Quibi’s kickoff comes not long after the debut of Disney+, the robust streaming service that arrived in the U.S. in November and quickly attracted more than 28 million subscribers. Disney can be a tough act to follow. Katzenberg should know. During the ’80s and early ’90s, he oversaw a major revival of Disney’s animation division. While he may have missed out on “Tiger King,” back in 1994, he found an epic feline hit in “The Lion King,” which went on to gross hundreds of millions of dollars at the box office for Disney and has since spawned an impressive litter of spinoff movies and shows. These days, “The Lion King” franchise is still hard at work, attracting streaming subscribers to Disney+. “They got 100 years, the greatest brands ever known, the most amazing library ever, and ‘The Mandalorian,’” said Katzenberg, referring to a popular Star Wars show.Quibi, by contrast, has got some interesting mobile viewing technology, a large batch of unproven programming and some great expectations.  Katzenberg said that of the 50 shows that Quibi will offer people in the first two weeks, he expects eight to 10 to go viral. “Meaning, in the same way we’re laughing about ‘Tiger King,’” he said. “You’re hearing about it through a connection. We’re not allowed to be around one another, but we are all still connected.” For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • A Google Plan to Wipe Out Mosquitoes Appears to Be Working
    Bloomberg

    A Google Plan to Wipe Out Mosquitoes Appears to Be Working

    (Bloomberg) -- An experimental program led by Google parent Alphabet Inc. to wipe out disease-causing mosquitoes succeeded in nearly eliminating them from three test sites in California’s Central Valley.Stamping out illness caused by mosquitoes is one of Alphabet unit Verily’s most ambitious public-health projects. The effort appears to be paying off, according to a paper published in the journal Nature Biotechnology on Monday. Verily is also running coronavirus triage and testing in parts of California. Bradley White, the lead scientist on the Debug initiative, said mosquito-suppression is even more important during the pandemic, so that outbreaks of mosquito-borne diseases such as dengue fever don’t further overwhelm hospitals.Since 2017, the company has released millions of lab-bred Aedes aegypti male mosquitoes into several Fresno County neighborhoods during mosquito season. The insects are bred in Verily labs to be infected with a common bacterium called Wolbachia. When these male mosquitoes mate with females in the wild, the offspring never hatch.In results of the trial published on Monday, Verily revealed that throughout the peak of the 2018 mosquito season, from July to October, Wolbachia-infected males successfully suppressed more than 93% of the female mosquito population at field test sites. Only female mosquitoes bite.Working with the local mosquito abatement district and MosquitoMate, which developed the mosquitoes originally, Verily released as many as 80,000 mosquitoes each day in three neighborhoods from April 2018 through October 2018. In most collections, per night Verily found one or zero female mosquitoes in each trap designed to monitor the population. At other sites without the lab-bred bugs, there were as many as 16 females per trap.“We had a vision of what this should look like and we managed to do that pretty perfectly,” said Jacob Crawford, a senior scientist on the Debug project.In the arid climate of the Central Valley, disease is an unlikely result of a mosquito bite. But in the hot, humid regions of the tropics and subtropics, diseases caused by the Aedes aegypti, such as dengue fever, Zika virus and chikungunya, kill tens of thousands of people every year. Releasing masses of Wolbachia-infected mosquitoes into the wild might wipe out entire populations of deadly mosquitoes and the diseases they carry.Verily is not the only organization pursuing an end to mosquito-borne disease. Microsoft Corp. co-Founder Bill Gates has pledged more than $1 billion to help wipe out malaria, including controversial efforts to genetically modify mosquitoes. Infecting mosquitoes with Wolbachia, which occurs naturally in some mosquito species, is a popular approach rooted in an old insect control strategy called sterile insect technique. What Verily’s efforts offer is not just evidence that Wolbachia can help wipe out disease-causing mosquitoes but potential ways to make such efforts work on a massive scale. Last year, Verily released about 14.4 million mosquitoes in Fresno County.Initial small-scale Fresno trials in 2016, run by an upstart called MosquitoMate, were the first time male Aedes aegypti mosquitoes infected with the bacteria were ever released in the U.S. The following year, Verily stepped in, bringing more advanced technology to the breeding and release process that could make it possible to expand such efforts to entire cities or regions.The new paper details many of those technologies, such as an automated process for separating male and female mosquitoes in the lab, and software that helps to determine exactly where to release altered male mosquitoes for maximum effectiveness.“Once you try to start rearing hundreds of thousands of mosquitoes a week, you run into all sorts of problems,” said White. “Mosquitoes may be everywhere, but they are really finicky and difficult to grow.”Verily has expanded its partnerships to include Singapore’s National Environment Agency. Trials there have entered a fourth phase to cover 121 urban residential blocks and about 45,000 residents. Verily is eyeing partnerships in South America and is in talks to launch in the Caribbean.Within a few years, said Crawford, Verily hopes the program will cover entire regions. Without intervention, he said, the public health toll of mosquito-born illness will only grow.“This is something that’s not going away on its own,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Is the Popular Chase Sapphire Reserve Card Worth It Anymore?
    Bloomberg

    Is the Popular Chase Sapphire Reserve Card Worth It Anymore?

    (Bloomberg Opinion) -- “In the United States, credit cards, debit cards, people love these cards,” Jamie Dimon, JPMorgan Chase & Co.’s chief executive officer, said during last year’s second-quarter earnings call. “They use their credit cards far more than they use their debit cards. I don’t remember the last time I used my debit card.”It’s not just American consumers drawn to credit cards, of course. They’ve become a bigger part of JPMorgan’s kingdom, too. Gordon Smith, who leads the consumer division, said at the Feb. 25 investor day that in the past several years it has increased market share to an industry-leading 23% from about 13.5%. A presentation showed digital card sales grew 13% year-over-year, which was 3 percentage points higher than the sector a whole.JPMorgan, the biggest U.S. bank, has been a pioneer in the space, with its Chase Sapphire Reserve reimagining what premium cardholders want and how much they’ll pay in annual fees to get it. The card exploded onto the scene in August 2016 with a sign-up bonus of 100,000 points, which was worth about $1,500 in rewards, easily making up for the steep $450 annual fee. JPMorgan featured late night host James Corden in a marketing campaign called “Reserve What’s Next.” In an interview with the New York Times about the series, Kristin Lemkau, JPMorgan’s chief marketing officer at the time, said this about the card, which also offered triple points for dining and travel anywhere in the world:“Millennials do travel differently,” she added. “What's different is they're the first generation that can find anything on Google, including travel. They clearly like experiences more than stuff. They clearly want to make their own decisions about everything, including travel. It's more fun to post a picture of a fish taco or of a sunset over a beach than of a new couch.”These days, though, Americans of all generations are spending a lot more time on their couches. The coronavirus pandemic has decimated the two industries most directly targeted by the Chase Sapphire card. With airplanes largely grounded and restaurants limited to delivery or takeout, is this card, which was once so popular that the manufacturer ran out of metal used to make it, now destined to be sent to the scrap heap? Earlier this year, my Bloomberg Opinion colleague Barry Ritholtz interviewed Brian Kelly, also known as the Points Guy. His website served as a launch partner for the Chase Sapphire Reserve card, which as of January was its pick for best personal card. Wirecutter had a different view, posting an article titled “The Slow Sudden Death of the Chase Sapphire Reserve” on Jan. 13.Regardless of the card’s rank among peers, Kelly’s life as described by Ritholtz probably seems positively alien to those starting their fourth consecutive week on lockdown:Kelly travels professionally, amassing millions of miles and holding the highest status levels at his favorite airlines. We discussed his preferred travel gear: He always has a laptop or similar device filed with movies, podcasts and TV shows because you cannot rely on the in-flight entertainment system, and if you get stuck somewhere for hours you could keep yourself entertained. He has a Dual Sim iPhone 11, which allows him to use the phone just about anywhere in the world. Google Fi is his carrier abroad. Also important for stressful travel these days: an InsightTimer meditation app. How long will it take for Sapphire Reserve-carrying millennials to return to their jet-setting ways? It’s really anyone’s guess, and it depends on how successfully governments around the world contain the coronavirus. But to think the travel industry will bounce back to what it once was in short order seems more dubious by the day. And I doubt people will immediately clamor to eat and drink in packed restaurants and bars after being hyperconscious about social distancing and wearing masks when interacting at grocery stores. The psychological toll can’t be dismissed so quickly.That will change the credit card calculus. Anecdotally, I surveyed a handful of friends from across the country who I knew had Chase Sapphire Reserve cards (from splitting the bill while dining out, of course). They said they were thinking about canceling, or at best re-evaluating whether it was worth it — the card now includes a Doordash “DashPass” and $60 worth of credits per year. That’s a nice perk in the coronavirus era but hardly comes close to the travel benefits. JPMorgan seems to understand cancellations are a risk: It had said it would boost the card’s annual fee to $550 as of April 1 but announced last week that it would give a $100 credit to those whose cards come up for renewal though July 1, effectively rolling back the increase. “We know Covid-19 has affected people in many different ways,” the bank said, calling the credit “a way to help.”Of course, for those who still find that cost too steep while staying home, JPMorgan has any number of options to keep customers with them. And it’s not as if it’s the only card issuer feeling the sting from the lack of travel: American Express Co., which once called the Sapphire Reserve a “full frontal assault” on its offerings, had told shareholders its fastest-growing expense this year would be spending on membership services. Bank CEOs had frequently marveled at the strength of the American consumer on earnings calls. When they report their first-quarter earnings starting next week, they’ll likely have a much different perspective. Bloomberg Intelligence’s David Ritter wrote last week that credit-card revenue could drop 5% to 10% in a recession similar to the last one, though banks with diverse revenue streams will be less exposed to the fallout than the likes of Synchrony Financial and Discover Financial Services. Capital One Financial Corp. could feel the pinch too, Ritter wrote, though the Points Guy considers it to have the best card for flat-rate rewards and the best one with no annual fee.Dimon, who returned to JPMorgan last week after emergency heart surgery on March 5, noted on that second-quarter 2019 earnings call that the Sapphire brand was introduced in 2009, just months after the recession ended. “Marketing money is usually better spent in a downturn, the returns on it usually double,” Dimon said.He published his annual letter to shareholders Monday, noting that the coronavirus pandemic will most likely send the U.S. economy into another rough stretch. “At a minimum, we assume that it will include a bad recession combined with some kind of financial stress similar to the global financial crisis of 2008,” Dimon wrote.With the travel and hospitality industries facing a reckoning, it’ll be up to Dimon and his colleagues to innovate once more.(Updates to add comments from Dimon’s letter to shareholders in the 13th paragraph.)This column does not necessarily reflect the opinion of Bloomberg LP and its owners.Brian Chappatta is a Bloomberg Opinion columnist covering debt markets. He previously covered bonds for Bloomberg News. He is also a CFA charterholder.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Stock Market News for Apr 6, 2020
    Zacks

    Stock Market News for Apr 6, 2020

    Wall Street closed sharply lower on Friday as the U.S. non-farm pay-roll declined significantly in March due to the partial lockdown imposed by the government.

  • Chewy, Cedar Fair, Baidu, Alibaba and Alphabet highlighted as Zacks Bull and Bear of the Day
    Zacks

    Chewy, Cedar Fair, Baidu, Alibaba and Alphabet highlighted as Zacks Bull and Bear of the Day

    Chewy, Cedar Fair, Baidu, Alibaba and Alphabet highlighted as Zacks Bull and Bear of the Day

  • Apple's (AAPL) Alleged Buyout of Voysis to Boost Voice Search
    Zacks

    Apple's (AAPL) Alleged Buyout of Voysis to Boost Voice Search

    Apple (AAPL) acquires Voysis, a natural language processing (NLP) solutions provider, which aids virtual assistants like Siri to better comprehend users' voice commands.

  • Facebook (FB) Adds WhatsApp Coronavirus Fact Checker in Italy
    Zacks

    Facebook (FB) Adds WhatsApp Coronavirus Fact Checker in Italy

    Facebook (FB) adds coronavirus fact checker on its WhatsApp platform in Italy to counter coronavirus misinformation.

  • Alphabet (GOOGL) Tracks Coronavirus Cases Using Location Data
    Zacks

    Alphabet (GOOGL) Tracks Coronavirus Cases Using Location Data

    Alphabet's (GOOGL) Google is using its database for tracking the movement of people to curb the spread of coronavirus.

  • Bloomberg

    Pandemic Data-Sharing Puts New Pressure on Privacy Protections

    (Bloomberg) -- Data sharing by technology companies is helping government officials fight the dizzying spread of the coronavirus by monitoring compliance with social distancing and stay-at-home orders.It’s also putting privacy experts on edge.Companies including Alphabet Inc.’s Google and Facebook Inc. were already collecting, for advertising purposes, huge volumes of data from websites and smart-phone apps like maps and weather services, which transmit signals about their owners’ location. Some of them are now stripping the data of personal identification markers, aggregating it, and providing it to researchers, public-health authorities and government agencies.The ability to pinpoint the movements of individuals is crucial at a time when controlling the pandemic’s spread depends on compliance with government orders to stay home if possible, and to practice social distancing if not.But consumer advocates fear that an emphasis on health over privacy could undermine the protection of civil liberties, similar to what happened after 9/11, when the U.S. secretly began collecting mass amounts of data on its own citizens in an effort to track down terrorists.Risk of Intrusion“There is an understandable desire to marshal all tools that are at our disposal to help confront the pandemic,” said Michael Kleinman, director of Amnesty International’s Silicon Valley Initiative. “Yet countries’ efforts to contain the virus must not be used as an excuse to create a greatly expanded and more intrusive digital surveillance system.”In the U.S. the new data-sharing practices are happening on many levels. One leading effort that began two weeks ago involves a partnership between a network of researchers and tech companies such as Facebook, which supplies anonymous and aggregated geo-location data.In assembly-line fashion, an analytics firm called Camber Systems takes mobile application data from digital ad companies and sends it multiple times a day to researchers who’ve joined the Covid-19 Mobility Data Network, according to network co-coordinator Andrew Schroeder.Those scientists study the now-anonymous data from multiple sources for insights about mobility rates, which are then shared with foreign governments like Italy and Spain and with U.S. states and cities, including New York, Seattle and California, Schroeder said.No ‘Surveillance’ The network says the analysis, which is meant to help measure enforcement of social-distancing rules, doesn’t contain personally identifiable information and that contracts governing the use of the information prohibit raw data from going directly to governments.Camber Systems declined to comment. Facebook said its data are aggregated in formats that prevent re-identification of individuals and that scientists and other users are subject to licensing agreements. Schroeder said the group is only using the data to address the public health crisis and not “for commercial purposes” or for “police surveillance.” Separately, Facebook, Google, Microsoft Corp., Amazon.com Inc. and others have pledged to work together in coordination with government to combat the spread of the virus. An ad hoc tech industry task force has also spoken with White House officials and the U.S. Centers for Disease Control and Prevention, according to a person familiar with the matter. Members of that task force have discussed proposals to share analyses of social-distancing compliance and hospital usage, the person said.Google announced Friday it would release new data about how the pandemic has cut down on foot traffic to transit centers, retail stores and public parks in more than 130 countries. The company said it’s responding to requests from public-health officials who want to know how people are moving around cities as a way to better combat the spread of Covid-19, the disease caused by the virus. Google reiterated in a blog post on Friday that, in its mobility reports, it’s using anonymized, aggregated data. Apple Inc. launched yet another initiative when it announced on March 27 that it was developing an app in partnership with the White House’s coronavirus task force, the CDC and the Federal Emergency Management Agency. The goal is to give the CDC guidance on users who input symptoms, risk factors and other information. The company said that individual responses wouldn’t be sent to the government.Earlier: Apple Joins Others in Launching Covid-19 Screening ToolsBut on Friday, four Democratic senators sent a letter asking what Apple was doing about privacy compliance, data retention, cybersecurity, and the terms of agreements with governments.With so many initiatives popping up, privacy gurus worry that information collected will later be used in ways it wasn’t intended. They say they don’t want to obstruct efforts that could help turn the tide in the crisis. Still, they want assurances that the data are truly anonymous. They want the data to be clearly defined, with real potential to be helpful, and to include limits on its reuse -- especially by law enforcement. They also want the data discarded once the coronavirus crisis ends.The sources of anonymous data can sometimes be exposed by combining datasets. Even when made anonymous, location points that come from phone apps, for instance, can be linked to a person by checking who lives at the address where the phone rests at night.“Location data can clue you in to a lot of other sensitive points about you,” said Sara Collins, policy counsel at Public Knowledge. “This discussion about backing into sensitive data from one data point I think is going to stay relevant.”Some of the data-sharing initiatives have already exposed potential community-spread problems. Tectonix GEO, based in Maryland, specializes in visualizing geolocation data, including for the federal government. It teamed up with X-Mode Social, based in Virginia, which sells location data from mobile phones to marketers. In March, they used the phone coordinates found on a single Florida beach during spring break to show how people had congregated and then dispersed -- possibly spreading the virus far and wide.X-Mode hasn’t shared any data with governments or heath agencies and hasn’t been been asked to, a spokesman for the company said.Cuebiq Inc., which specializes in helping companies analyze the effectiveness of ad campaigns on travel, weather, and other location-based apps, is posting its own “Mobility Insights,” with county-level readings across the U.S. on the movements of people in areas under stay-at-home orders. Chief Executive Officer Antonio Tomarchio, said it chose to provide analysis from a wide geographic area to protect privacy while trying “to help as much as we can.”“This is not like surveillance,” said Tomarchio, who’s watched the “disaster” unfold in his native Italy. “It’s not that we’re seeing each device.”Privacy RulesBusiness groups have used the pandemic to seek a delay in privacy rules, including a March letter from dozens of trade groups that urged California Attorney General Xavier Becerra to delay enforcement of the state’s new privacy law for six months due to Covid-19. The groups represent advertisers, tech companies, financial services firms, telecom providers, retailers, toymakers and more. Becerra’s office said it wasn’t planning any delay in the July 1 enforcement date.“Industry wants to use its role addressing today’s threats to public health as a lobbying tool to weaken the resolve of lawmakers to protect privacy,” said Jeff Chester, executive director of the Center for Digital Democracy and a longtime online privacy advocate.Use of consumers’ data is governed largely by individual services’ privacy policies, which are often contained in sprawling documents that most users click through without reading. Few, if any, of the data uses clearly run afoul of laws or regulations, privacy experts say.Hubei ProvinceMany of the proposed ways to use data to combat coronavirus in the U.S. also stop short of what several other countries have done.In China, authorities used phone-carrier data to trace everyone who’s been in or near Hubei province, home to Wuhan, the epicenter of the outbreak. Singapore’s TraceTogether app uses Bluetooth technology to map a person’s contacts in case an infected person fails to recall all social interactions. And Israel has approved the use of tracking technology developed to combat terrorism to trace the movements of coronavirus patients.The lack of a federal law in the U.S. and the potential for privacy erosions are prompting advocates to push for guardrails. “This pandemic is just another example of why we need a strong, comprehensive baseline federal privacy law and a U.S. data protection agency,” said Caitriona Fitzgerald, policy director of the Electronic Privacy Information Center, which has filed government records demands about the White House’s work with tech companies.“People may choose safety for the moment,” said Jessica Rich, a former director of the Federal Trade Commission’s consumer protection bureau and now a fellow at Georgetown Law’s Institute for Technology Law & Policy. “When this crisis is over, we will have eroded privacy norms and expectations and even regulations. And will we be able to get that back?”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Apple Acquires AI Startup to Better Understand Natural Language
    Bloomberg

    Apple Acquires AI Startup to Better Understand Natural Language

    (Bloomberg) -- Apple Inc. acquired Voysis, an artificial intelligence startup that developed a platform for digital voice assistants to better understand people’s natural language.Dublin, Ireland-based Voysis focused on improving digital assistants inside online shopping apps, so the software could respond more accurately to voice commands from users. A now-removed company webpage said the technology could narrow product search results by processing shopping phrases such as “I need a new LED TV” and “My budget is $1,000.” Voysis provided this AI to other companies to incorporate it into their own apps and voice assistants.Read more about the startup here: Synthesizing Realistic Human Speech Just Got a Lot EasierAn Apple spokesman said the company “buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans.”Voysis’s system taps into Wavenets, an AI-based method for creating more human-like computer speech that was first developed by Google’s DeepMind in 2016. Voysis co-founder Peter Cahill said in 2018 that his company managed to shrink its system to the point where, once the AI is trained, the software uses as little as 25 megabytes of memory -- about the same size as four Apple Music songs. That made it much easier to run on smartphones without an internet connection.Apple could use the acquired know-how improve Siri’s understanding of natural language or to offer the Voysis platform to thousands of developers that already integrate with the Apple digital assistant. Apple has been the top buyer of AI startups in recent years and has a portfolio that already includes former startups including Turi, Xnor.ai, and Laserlike.Read more: Big Tech Swallows Most of the Hot AI StartupsVoysis was founded in 2012 and sold its services to several companies. It also had offices in Edinburgh and Boston and got $8 million in venture funding from Polaris Partners in 2017.The acquisition is the second Apple deal disclosed this week. The Cupertino, California-based tech giant also bought Dark Sky, a popular weather app for iPhones and iPads.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • ETFs to Gain on Cloud Computing Growth Amid Coronavirus Crisis
    Zacks

    ETFs to Gain on Cloud Computing Growth Amid Coronavirus Crisis

    Cloud computing comes to the rescue as countries practice social distancing, making people work remotely to contain the coronavirus outbreak.

  • Sky News

    Coronavirus: Google data shows how people's movements have changed since outbreak

    Visits to shops, museums and cafes in the UK have fallen by 85% since the coronavirus outbreak, according to data shared by Google. The technology firm's anonymised data of people's locations provides an insight into how the public are moving around during the pandemic. The information comes from products such as Google Maps, the company said.

  • Bloomberg

    Google Joins With U.K. Researchers to Track Coronavirus Cases

    (Bloomberg) -- Google is working with researchers in Europe to track the spread of the coronavirus using troves of location data gathered from smartphones.The search engine giant is collaborating with academics from the University of Southampton in the U.K., who in turn are working with the European Centre for Disease Prevention and Control, according to several people involved in the project.The location data, which Google collects from location-enabled apps such as Google Maps, has been shared with the researchers in an aggregated and anonymized format. It can’t be used to track an individual person; rather, it shows broad patterns of movement across entire countries over periods of time, according to the people.The data is helping researchers analyze the relationship between travel patterns and transmission rates of the virus within different countries, according to the people, while also providing insight into the effectiveness of lock downs in European countries.“We are looking at inner-city movement across the EU and what it means for controlling Covid-19,” said Nick Ruktanonchai, an infectious disease epidemiologist and lecturer at the University of Southampton. “With the location data, we are testing different scenarios and simulating what might happen if countries don’t end their lock downs in a coordinated way. It’s about buying time. We want to make sure a big second epidemic doesn’t happen months down the line.”Ruktanonchai’s description was confirmed by three others familiar with the project, who requested anonymity.A spokesman for Google pointed to a blog post the company published on Friday, which stated that it was “collaborating with select epidemiologists working on Covid-19 with updates to an existing aggregate, anonymized dataset that can be used to better understand and forecast the pandemic.”The European Centre for Disease Prevention and Control didn’t respond to a request for comment.The researchers are also working with telecommunications giant Vodafone Group Plc, Ruktanonchai said, and have combined data from Vodafone’s mobile phone networks with the Google location data in an effort to create more accurate models of movement patterns in Europe.A spokesman for Vodafone Group confirmed that the company was working with Southampton researchers on a project to monitor how the coronavirus might develop in different scenarios.In recent weeks, more than a dozen countries -- including the U.S., U.K., Italy, Germany, Austria, Spain, South Korea, Iran and Taiwan -- have turned to mobile phone location data as a method of monitoring people’s movements during the coronavirus pandemic.Two of the U.K.’s largest telecommunications companies – British Telecom and Telefonica UK Ltd – have said that they have provided anonymized location data to the government to support policy planning during the coronavirus crisis. In Austria and Italy, authorities are using location data provided by Telekom Austria and Vodafone to keep tabs on whether people are following restrictions on movement.The data has proved useful in determining whether lock down measures have been successful. However, privacy experts have raised concerns about its use. On Thursday, a coalition of more than 100 human-rights groups issued a joint statement that called on governments not to “disregard rights such as privacy and freedom of expression in the name of tackling a public health crisis.”The work being done in the U.K. not only offers an insight into current movement patterns but also enables the researchers to try and predict future scenarios. “We’re looking at what happens if all countries coordinate lock downs” or end their lock downs at different times, said Andy Tatem, director of the University of Southampton’s WorldPop project, which is leading the research.If countries in Europe don’t coordinate, Tatem said, it could lead to a resurgence of the virus.Teams at Alphabet Inc.’s Google have been working for weeks to find ways to use the company’s large stores of data to assist governments and organizations to manage their response to the coronavirus outbreak, according to two people familiar with those efforts.On Friday, Google announced that it would begin publishing “mobility reports” that show movement trends in 131 countries during the coronavirus pandemic. Google said the reports would document trends across different categories of places such as retail and recreation, groceries and pharmacies, parks, transit stations, workplaces and residential.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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